Southern Michigan Bancorp, Inc. (SOMC)

Southern Michigan Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Interest Income on Loans	72.78	64.38	54.89	36.58	32.59
Interest Income on Investments	10.62	11.74	10.68	7.55	4.55
Total Interest Income	83.4	76.12	65.57	44.13	37.14
Interest Paid on Deposits	30.43	29.01	20.59	4.12	2.27
Interest Paid on Borrowings	5.48	6.02	5	1.91	1.55
Total Interest Expense	35.92	35.03	25.59	6.03	3.82
Net Interest Income	47.48	41.09	39.98	38.1	33.32
Net Interest Income Growth (YoY)	15.56%	2.77%	4.93%	14.36%	24.90%
Trust Income	3.22	2.74	2.42	2.26	2.27
Gain (Loss) on Sale of Assets	-	-	-	-	0.01
Gain (Loss) on Sale of Investments	-	-0	-	-0.67	0.01
Other Non-Interest Income	3.75	3.39	3.34	3.66	3.16
Total Non-Interest Income	9.78	8.49	7.74	7.38	9.02
Non-Interest Income Growth (YoY)	15.14%	9.73%	4.85%	-18.14%	7.33%
Revenues Before Loan Losses	57.26	49.58	47.72	45.48	42.33
Provision for Loan Losses	3.2	1.01	0.95	0.28	1.5
Revenue	54.06	48.56	46.77	45.21	40.83
Revenue Growth (YoY)	11.32%	3.84%	3.45%	10.71%	25.74%
Salaries and Employee Benefits	24.15	20.77	18.7	16.97	15.06
Occupancy Expenses	2.44	2.05	1.81	1.68	1.57
Amortization of Goodwill & Intangibles	-	0.77	0.78	0.38	0.33
Selling, General & Administrative	7.77	9.4	9.31	7.41	7.24
Other Non-Interest Expense	5.32	3.43	2.82	2.7	2.52
Total Non-Interest Expense	39.67	36.43	33.42	29.13	26.71
EBT Excluding Unusual Items	14.39	12.14	13.35	16.07	14.12
Pretax Income	14.39	12.14	13.35	16.07	14.12
Income Tax Expense	2.18	1.74	2.44	2.58	2.36
Net Income	12.22	10.4	10.91	13.49	11.76
Net Income to Common	12.22	10.4	10.91	13.49	11.76
Net Income Growth	17.43%	-4.61%	-19.17%	14.75%	59.18%
Basic Shares Outstanding	5	5	5	5	5
Diluted Shares Outstanding	5	5	5	5	5
Shares Change (YoY)	1.89%	0.38%	-0.08%	-0.14%	-1.18%
EPS (Basic)	2.65	2.28	2.40	2.98	2.59
EPS (Diluted)	2.63	2.28	2.40	2.97	2.58
EPS Growth	15.35%	-5.00%	-19.19%	15.12%	60.82%
Dividend Per Share	0.640	0.600	0.560	0.520	0.480
Dividend Growth	6.67%	7.14%	7.69%	8.33%	4.35%
Effective Tax Rate	15.12%	14.31%	18.30%	16.06%	16.73%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.